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U.s. 9, Greece 8, Venezuela 6, Hugo Chavez 5, Europe 5, China 4, Us 4, Esm 4, Obama 3, Luxembourg 3, Spain 3, Portugal 3, Angela Merkel 2, Chavez 2, The City 2, Russia 2, Germany 2, Lexington 2, Lisbon 2, Ronald Reagan 1,
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  KCSMMHZ    Journal  

    October 8, 2012
    2:30 - 3:00pm PDT  

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captioned by the national captioning institute --www.ncicap.org-- >> welcome to "the journal." >> coming up, you're plunges its permanent bailout funds -- europe launches its permanent bailout fund. >> off venezuela reelect hugo chavez president. >> the nobel award for stem cell research.
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>> the euro debt crisis can seem like an alphabet soup sometime. more acronym's being added by the week. but as recently we had the ecb announcing its new omt to save the emu. >> one acronym is now here to stay and leaders say it's one to remember -- esm, or european stability mechanism. >> it is designed to rescue countries that get in trouble. >> there is a big legal challenge in germany and now it is here. they're hoping it will turn out to be worth the wait. >> european finance ministers smiling after frequent outbursts. their signature as formally
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establish the bailout fund. it will prop up member states. >> getting esm on the runway shows that they're committed to overcoming the difficulties of our time. >> it shows we are predictable, reliable. eventually they will realize that. >> investors have been speculating that big eurozone states like spain could need help. they have denied that they will be needing a bailout. >> we have enough crisis in europe. i'm optimistic at the moment for
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future prospects of the eurozone. >> for now, it's still quiet in the luxembourg office. a bailout request could come soon. >> we will be in luxembourg for that meeting of european finance ministers. would this be the solution to eurozone's problems? or could it become a problem itself? >> the esm could be a milestone and i personally think that it could indeed be a very important instrument to solve the crisis. they have a lot of firepower and they can be used to prevent crises. there are a lot of discussions to come, for example, greece and what the troicha what they will say. spain could be next.
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with all of these discussions to come, it's very important that they send a signal saying that they're taking actions that are credible and they stand together. >> there has been a general sense of relief that it is now in place, but what about the reaction from the stock markets? we have more on that. >> how could the euro fund create confidence? it became clear shortly after. shortly after they signed the agreement in luxembourg, the rating agency fitch gave it's first credit rating -- aaa, the best you can get. the esm really is an important component but the question remains how and when the economy will start to get in gear again
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especially in countries like spain, italy, and france. it is why the introduction really did not inspire on the stock trading floors this monday. >> we will have more on the implications later in the show with reports on portugal and greece. for now, a closer look at the market numbers. the dax 1.5% down. stoxx 50 closing at 2496. the dow is down just a tad. the euro is trading to $1.2966. consolations between china and the u.s. have seen better days. the u.s. has released a report saying that americans have -- should not do business with
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communications companies. >> the report follows an 11- month investigation into two companies. >> legislators in washington fear foreign telecom companies could pose a threat to u.s. national securit. it says firms could use their business in the u.s. to install software to is by an ounce -- spy on u.s. infrastructure. they named two companies and they believe they should be wary of huawei and zte. the two companies deny the allegations and have the support of the chinese government. >> when china in the u.s. benefit from the business we do in america are, we hope the congress will monday's their opinions on prejudice but on the
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facts so as not to hurt bilateral trade relations. >> this is just the latest battle in a war of words over trade and economic practices. the u.s. has accused china of unfairly subsidizing renewable energy and the auto industry in china expressing complaints to the wto. clogs let's get to the u.s. election campaign. romney accused obama of failing to lead in the middle east. is going to frame his positions ahead of the next presidential debate next week. we have some analysis from our russian and correspondents in just a moment, but first tier are a few clips. >> it is our responsibility and the responsibility of the president to use our greatest power to shape history, not lead from behind the. destiny at the mercy of events.
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i will put the leaders of iran on notice that the u.s. and our friends and allies will prevent them from acquiring nuclear weapon capability. i will not hesitate to impose sanctions on iran and will tighten the sanctions we currently have. >> max hoffman was in lexington for that speech. foreign policy was never at the heart of romney's message. he has always been about the economy. what did we learn about him here? are we looking at a new conservative republican? -- neo-conservative republican? >> they avoided the name "george w. bush" similar to ronald
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reagan's foreign-policy. they do not want to be in his corner. at the same time, they want to take advantage of the traditional republican strength. they believe they are tougher when it comes to national security. he's trying to solve that dilemma by saying he wants to avoid war by spending more on the military. he does not want to scare off any independent voters but at the same time he wants to satisfy his conservative clients. >> let's look at the broader campaign. last week, he got a big boost from winning that the raid against obama. the polling numbers also looking better for him now. is the obama campaign worried? >> nervous, there is no question, but as there has been some significant change in some of the most important swing states, ohio and florida. things change on a daily basis here. we have not factored that in
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yet for the new unemployment numbers that came out friday that are in obama's favor. this will be a very, very close race matter what anyone says. we will know on election day how it plays out. they will have to fight until the last day. that is the candidate who will win in the and who can get the most voters out. >> max, thank you for joining us from lexington, va. >> turkey bombarded syrian positions again in a result to what they said was a new shell strike on a border town. "this was just hours after ban ki moon warned of the dangers. >> syrian rebels said government troops were pounding against the
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central and southern provinces. >> a mortar round hit turkey on sunday. their response was swift. they say the current situation could not continue. >> the government is in constant consultation. whatever is needed is being done and will continue to be done. >> two kilometers from the turkish border, syrian rebels have seized the city. they witnessed the victory celebrations. most of the population fled while it was occupied by government troops. now that the rebels are in control, people are starting to return. >> i'm back in my town after one year, four months. i'm so excited. i'm so happy.
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>> the fighting continues elsewhere in syria. clashes were especially heavy in homs. there was fighting across the city. what's coming up, hugo chavez wins a fourth term in venezuela. >> here is a look at other stories making news. two afghan intelligence officers have been reported killed in a suicide attack in a southern city. a car bomb went off outside a police station. 14 people were also sent to the wounded. >> the libyan parliament has dismissed the prime minister- elect for rejecting his revised cabinet lineup. the criticized his ministerial choices saying they did not adequately represent all the regions and tribes. >> the opposition leader has declared she is willing to stand in the next presidential election in 2015.
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the national league for democracy said it was her duty to take office if that was what the people of burma wanted. >> to venezuela where president hugo chavez has one another six years in office. >> the result was a huge disappointment for his rival who led a strong campaign, but only ended up with about 45% of the ballots. chavez has promised to be a better president for his people. >> a euphoric at the scene on the street in venezuela as chavez supporters were celebrating. the left-wing leader once again winning over voters to his cause. >> you voted for socialism. you voted for independence. you voted for the greatness of venezuela. >> it was a bitter defeat
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proposition supporters. there can did it had proven to be his most formidable opponent since he took office 14 years ago. he took around 45% of the vote, something he said should give the president food for thought. >> i hope a political movement which has been in power for 14 years now understands that almost half the country does not agree with it. >> during his election campaign, the 40-year-old state governor promised to crack down on crime, bloated bureaucracy, and corruption. now, his coalition faces another six years in opposition. >> there are no words right now. we need to be, and believe that venezuela can move past this a dictatorship that president hugo chavez has brought upon us. >> despite waning support and a
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battle with cancer, hugo chavez appears more determined than ever to continue his self- declared a socialist revolution. >> we will be back in a minute with more on the eurozone crisis and a look at the situation in portugal. >> we will look at the nominations and the winners from the nobel prize selection committee. >> what is so powerful it can
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make you overcome your greatest fear come attorney brother in an enemy, long after the fight is over? "is what is so potent it passes from mother to child, generation to generation? what clouds brilliant minds? makes bad ideas seem like good ones? it's hogger. help us fight hunger. >> the world food program. >> welcome back. a big day for europe. the clock is now in a stronger position to address its debt crisis thanks to a new and improved fund. >> the long-awaited european stability mechanism, or esm, went into operation for today. it does not mean things are automatically better. >> portugal is fighting reforms and public protests have not gone away.
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>> the international rings out across the portuguese capital. they are sick of austerity measures and the demonstrations of the past week show they are becoming increasingly restless. the quality of life is dropping and everyone is trying to find a way out of the crisis. he used to build houses and sell them. now he has become a strawberry farmer. this year's harvest is over. he is planting for next year. >> it's very tough to make a living from this job. it helps that my wife is working, but strawberry's only bring in money six months out of the year. >> with emigration as s only other alternative, he decided to try his hand up farming. is not the only one.
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some 2500 young farmers applied for assistance last year, many more than the year before. in the past, young people left the countryside in droves. now, for some of them, farming is a way of coping with the crisis. in lisbon, this restaurant owners struggling to make ends meet, like many business owners. people are eating out less and revenue at his restaurant has fallen by half. every day, the restaurant owner's asking the same question -- will there be enough customers to keep business taking? >> if the government would stop taking money bring the working people, they would have more to spend. it would be much easier to overcome the crisis. >> pictures of the portuguese political elite hang on the walls. they come here for lunch themselves. does he ever tell him what he
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thinks? >> it's difficult. he's an old customer. if he asks me, i asked if he wants to hear the truth for something more pleasant. >> ordinary local people stopped coming here young ago. only those to afford it come these days. many of them have little sympathy with the protesters. >> i think most portuguese understand we have to get our state finances in order. that's the only way we can stabilize the economy. >> people in this suburb may disagree. the food here has to be donated by local bakeries and supermarkets. volunteers distribute it to those who need it most. he said of the project. >> the people who come here are mainly from low-income households. their middle-class families
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whose income is decreasing rapidly. there are people with jobs or older people who have debts and cannot afford food who need our help, too. >> some 50 families come here on a regular basis. she is collecting the weekly ration for her family of five. she lives with her parents and they are all unemployed. 37% are without a job. the future seems bleak and many are angry with the prime minister. >> if i could, i would throttle him. what do you do? >> with such widespread discontent, pressure on the portuguese government shows no sign of abating. expect more protests on the streets of lisbon. >> back here in germany, angela merkel is holding discussions with regional leaders from the christian democrat party.
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she has broad support for her policies on europe. this came right before high- profile trip she will be making to greece on tuesday. >> it will be her first trip to the epicenter of the debt crisis since it began three years ago. >> angela merkel was apprehensive the day before her meeting in greece, there was no sign of that at a meeting of global party leaders on monday. she will and courage athens to move ahead with necessary reforms. >> these talks will be friendly and constructive. of course, they will be conducted in the light of our expectations of greece. agreements exist between us. now we must make sure they are implemented. >> some in her coalition have spoken openly about their wish to see greece exit the eurozone. such talk has stirred
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controversy, but they agree there should be no new concessions. >> they would be doing themselves a favor if they stick it to the measures agreed upon. we want to see greece succeed. >> the opposition in berlin urged merkel to talk about ways to ease the plight in greece and not just insist on more austerity. >> this is long overdue. i hope she uses this to talk to the greeks and not just about them. she needs to express sympathy with their economic sacrifices. >> tension is palpable in athens. thousands of police officers have been deployed to prevent an outbreak of violence. >> is that time of year again when the nobel prize are announced. it has been awarded to two pioneers of stem cell research. >> their work has revolutionized
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the understanding of how cells in organisms develop. adult cells can be reprogrammed to become stem cells. it can be then used to become any tissue type. but the announcement was made in stockholm. the nobel prize for medicine. the two discovered adult cells can be reprogrammed to become stem cells which can then be used to form any tissue type. the nobel assembly said the two men had revolutionized the way that sells and organisms grow and develop. the professor worked in kyoto where he added four genes to skin cells which were transformed. -- to stem cells which were then specialized. this was work pioneered 40 years earlier by a cambridge electorate. at school, he was actually discouraged from pursuing a career in science. >> it was a completely
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ridiculous idea because there was no hope whatsoever of my doing science and then a time spent on it would be a total waste on my part and whoever had to teach me. but the nobel jury beg to differ. >> we now knew that -- know that development is not strictly a one-way street. >> there is hope that their work will pave the way for developing methods to diagnose and treat many diseases. >> to find out more about this, we are joined by our science correspondent. a lot of people around the world are working in stem cell research. why did these two get the prize? >> they got it for the same reason a lot of nobel prize laureates have gotten it -- they went against the currents. we used to believe that cell differentiation only went in one direction.
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you had these undifferentiated cells, stem cells, and then they became something in the course of development. in the embryo has a lot of them and they turn into bone, skin, liver. everyone thought it only went in one direction. this was the first time anyone was ever able to reverse it. he claimed you could clone frogs. 40 years later, he was able to show you could do this on a genetic level as well. they're doing groundbreaking work that went against common scientific belief. clucks very important questions. what does this mean for the medical treatments of the future? >> one of the biggest things with stem cell research is that, obviously, it is a really political and ethical hot potato. this research takes embryonic stem cells out of the equation.
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embryonic stem cells, the cells they were hoping to use for these new therapies and treatments, they are no longer needed with the these cells they have discovered. you can basically take someone's skin cell and reverted back into the stem cell state and rhee differentiated into any kind of tissue you want. >> that's pretty exciting technology. what could be the next steps ahead? >> there are medical diagnostics. we need to understand differentiation about how this happens. then eventually, they're going to hope they will be able to grow tissue specifically tailored to individuals. >> exciting years ahead of us in this field. thank you very much for that. >> russia is due to open the second leg of the gas line to
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europe today. the first by -- pipeline has been pumping gas to germany since november last year. this will double their annual capacity to up to $55 -- 55 billion cubic meteres. gazprom is already looking at other lines. they have already warned about becoming too dependent on russia for energy. >> the first capsule with cargo left for the iss. >> it included ice cream, clothing, and cargo. >> i fancy some ice cream right now. stay with us more. we will have more at the top of the hour. >> see you soon.
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